Abbreviated Company Accounts - DITTON PRIORS COMMUNITY LAND TRUST

DITTON PRIORS COMMUNITY LAND TRUST - Company Information

Registered Number 08741545

DITTON PRIORS COMMUNITY LAND TRUST

Abbreviated Accounts

31 October 2016

DITTON PRIORS COMMUNITY LAND TRUST Registered Number 08741545

Abbreviated Balance Sheet as at 31 October 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	3	500,720	500,000
		500,720	500,000
Current assets
Debtors		-	124
Cash at bank and in hand		4,280	4,354
		4,280	4,478
Creditors: amounts falling due within one year		(1,443)	(1,622)
Net current assets (liabilities)		2,837	2,856
Total assets less current liabilities		503,557	502,856
Creditors: amounts falling due after more than one year		(2,000)	(2,000)
Total net assets (liabilities)		501,557	500,856
Reserves
Revaluation reserve		495,723	495,723
Income and expenditure account		5,834	5,133
Members' funds		501,557	500,856

For the year ending 31 October 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 6 April 2017

And signed on their behalf by:
R M S JONES, Director
J COLLINGRIDGE, Director

DITTON PRIORS COMMUNITY LAND TRUST Registered Number 08741545

Notes to the Abbreviated Accounts for the period ended 31 October 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives as follows:
Equipment 25% straight line

Other accounting policies
Freehold Property
Investment properties are shown in the accounts at the Directors valuation.
Investment properties are not depreciated.

Grants and Donations
Grants and donations are accounted for when received.

Tax reclaims on donations and gifts
Tax reclaims on donations and gifts are accounted for in the same year as the gift to which they relate.

Gifts in kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.

Donated services and facilities
These are only included in the accounts (with an equivalent amount in expenditure) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed om these resources is the estimated value to the charity of the service or the facility received.

Volunteer help
The value of any voluntary help is not included in the accounts but is described in the directors report.

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital.

3Tangible fixed assets

	£
Cost
At 1 November 2015	500,000
Additions	725
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2016	500,725
Depreciation
At 1 November 2015	0
Charge for the year	5
On disposals	-
At 31 October 2016	5
Net book values
At 31 October 2016	500,720
At 31 October 2015	500,000

Included in the above is freehold property known as Oak Farm, Station Road, Ditton Priors at a value of 500,000. It was purchased from Shropshire Council for 1. There is a covenant over the property so that if the Trust wishes to sell, Shropshire Council have the right to buy the property back at the original purchase price.
In the opinion of the directors, the property should be shown in the accounts at it's insurance value of 500,000